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RBA Reform Under Rudd?

RBA Governor Glenn Stevens speaks to the Sydney Institute on the subject of central bank communication next week and David Uren suggests that this might be the occasion for Stevens to unveil improved RBA transparency and accountability measures. Uren notes that a new Joint Statement on the Conduct of Monetary Policy is also expected later this week.

After more than a decade of neglect under former Treasurer Peter Costello, it remains to be seen whether the new government is serious about reforming RBA governance, which has left the RBA as one of the developed world’s least accountable and transparent central banks.